PiCK
Bitcoin Drops to 13th in Global Asset Rankings as Money Moves to AI, Chips and Commodities
Summary
- Bitcoin (BTC) has fallen about 11%% this year and about 30%% over the past year, slipping to 13th place in the global asset market-cap rankings.
- Over the same period, investment flows appear to have shifted to other asset classes including artificial intelligence (AI), semiconductors and commodities.
- TSMC, Broadcom, Micron and Samsung Electronics are now near or ahead of Bitcoin in market value, extending the rally in related stocks.
Forecast Trend Report by Period
Bitcoin, the largest cryptocurrency, has extended its weak performance this year, slipping to 13th place in the global asset rankings by market capitalization.
CoinDesk reported on May 27 that Bitcoin fell to around $76,000, reducing its market value to about $1.5 trillion.
Bitcoin has dropped about 11% this year and roughly 30% over the past 12 months. During that period, investment money appears to have shifted into other asset classes such as artificial intelligence, semiconductors and commodities.
In precious metals, gold climbed to a record $5,600 an ounce in January. It was recently trading at about $4,486. Silver also rose as high as $120 an ounce before settling at around $76. By market capitalization, silver ranks as the world's fifth-largest asset.
AI- and semiconductor-related stocks have also remained strong. The Roundhill Magnificent Seven ETF, which is centered on the so-called Magnificent Seven technology stocks, has gained 33% over the past year.
TSMC and Broadcom each have a market capitalization of about $2 trillion, surpassing Bitcoin to rank eighth and ninth among global assets. Micron recently topped a $1 trillion market value, while Samsung Electronics, at about $1.3 trillion, is also closing in on Bitcoin.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
